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Case Facts: Lubbock Corporation reported the following activity in 2017: Income from operations: Deductions from operations before Special items: Dividends from 15% owned corporations $2,000,000

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Case Facts: Lubbock Corporation reported the following activity in 2017: Income from operations: Deductions from operations before Special items: Dividends from 15% owned corporations $2,000,000 (1,300,000) 100,000 (40,000) (130,000) (35,000) (140,000) . Total meals and entertainment expenses .Total charitable contribution NOL carryover from previous year .DPAD deduction Assignment - Calculate the following in good form| 1. Corporate taxable income (30 points) 2. Corporate tax liability (5 points) 3. Charitable contribution carryover (if any) (5 points) ot 1 102 Words English (US) Chapter 16, Problem 35APS

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